SA Development bank threatens to withdraw funding to Zambia

SA Development bank threatens to withdraw funding to Zambia

The Development Bank of Southern Africa (DBSA) is unhappy with the Chinese takeover of almost all the important infrastructures in Zambia and is about to withdraw funding to Zambia.

The Watchdog understands that a DBSA team is In Zambia to confront Finance minister Margaret Mwanakatwe on why Zambia has allowed China to take over projects even those funded by the South Africa.

The Watchdog understands that Ms Mwanakatwe failed to provide a satisfactory explanation to DBSA which is now pondering withdrawing funding and possibly recall its loans.

DBSA has been funding and loaning the Zambia Electricity Supply Corporation (Zesco), the National Road Fund Agency and the Rural Electrification Agency.

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